World’s First Decentralized Currency Exchange to Launch April 27!

Home Media VW World’s First Decentralized Currency Exchange to Launch April 27!
Published on April 19, 2016

Manfred Karrer, founder and lead developer at BitSquare, shares with Amanda how the peer-to-peer exchange protocol works, what inspired him to begin writing it two years ago, and why he thinks it’ll be attractive to traders. One side of the trade needs be in Bitcoin, and the other can be in one of dozens of fiat currencies, or one of 22 cryptocurrencies.

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Show links:
Bitsquare: bitsquare.io
Manfred on Twitter: twitter.com/manfred_karrer

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  1. Jones

    Well that title is just blatantly untrue

  2. Jesus look at the ticker bar. How far we have come.

  3. This is the safest most secure way to buy/trade/sell but very slow process in a very fluid pricing market now(Dec. 2017). You must wait until someone else is ready to buy at the price you want. One trade can take hours to execute.

  4. Nov 2017 – OMG watching those prices at the bottom ….beyond my fantasy 😀

  5. Just awesome project!!! But is there or will there be a competition with 0x Protocol?

  6. Can I fund my wallet here from my credit card? Or is the assumption that I already have bitcoins somewhere else, and I'm going to fund bitsquare with my already existing bitcoins from a different external wallet?

  7. Mike L

    Look at those prices on the ticker! lol

  8. Lol people doesnt have creativity i see that simbol in many places "Bitsquare" symbol

  9. v v

    opensource? where Will THE code be published ? would Love to look at it

  10. Wait I can create a bank? Sweet teach me how to start.

  11. Wait I can create a bank? Sweet teach me how to start.

  12. Amazing, I have been waiting for something like this to happen. A tremendous effort for the democratic evolution of commerce. Thank you for presenting this to the public here.

  13. BITHALO was first 2 years ago. And this has arbiters… not decentralized at all. 2 of 3 means buyer/seller collusion for arbiters deposit. New projects are welcome, but dishonest claims are not cool.

    Yeah just finishing watching this, buyer/seller can steal arbiters funds (you claimed their deposit goes into the 2 of 3). You can contact me to discuss this security flaw would be happy to discuss it with you. But this system is extremely dangerous.

    BitHalo already has peer to peer cash with no arbiters(and even has a price tracker), and at least 1000 different transactions over the years. You just make both buyer/seller deposit since they know the ultimate truth. And never has a single escrow defaulted.

  14. Great interview. Can't wait to try this. This could put an end to people losing money on exchanges from insolvency, hacking, and all the other problems that come with "centralized" exchanges. Very exciting.

  15. Sad Day for the ALTCOIN World. Thanks Amanda & the other 50% for spreading out the message of freedom. Mille grazie a tanti bacci.

  16. Brad

    How does the OKPay process work with it?

  17. This really excites me. Along with OpenBazaar, the movement toward decentralization seems less a dream with the development of these networks. Thanks, Amanda, for your work in sharing these developments. Much appreciated.

  18. wow, this guy's a boss. This project is awesome. I'd love to see it take off. Decentralize all the things!!

  19. Clay

    she's hot

  20. I'm just wondering in the case if someone wants to sell Bitcoin to Fiat lets say USD is it instant in the sense that the money enters their bank account or is only the Bitcoin side of the transfer fast while the fiat to Bank account takes the usual long wire 3-10 working day delay?

    That said in this sense for taxation purposes as some countries mention that if the conversion from crypto to fiat is done not in the country(depending on where the exchange is based not where you are), they will not charge GST for the sold coins, so since it is decentralized, if say we sold it does that mean you're selling it locally within your country or are you selling it outside?

    Also how will BitSquare change the experience for people who are converting Fiat to Crypto besides not being restricted to any country's laws and can not be shut down by any one nation? In the end it's still going to be the same lengthy process when converting between Fiat and Crypto right? If it's a large amount of Fiat, the KYC still applies from the bank side?

    I think in order for BitSquare to work well, we would need an online decentralized Bank/ Fiat wallet which stores our Fiat the way our Bitcoin/Ethereum wallets hold our currencies and is able to be used instantly for any purchase using our phones etc? This is only since most businesses do not accept our Bitcoin/Ether as hard cash yet and we can't actually use it on a day to day basis. hmmm unless i'm not aware that there're already decentralized Fiat wallets out there which lets you buy things all over the world in seconds without needing to wait for wire transfers etc?

  21. John H

    Waves allows you to hold both fiat and crypto in your decentralized wallet. Not just crypto with bitsquare.

  22. This is the most exciting news I've heard in crypto in a long time

  23. coinffeine is another decentralized fiat/crypto exchange that is already out. I couldn't use it in because of where I live though.

  24. Differences between this and shapeshift?

  25. SlyNur

    Amanda, what does your middle initial B. stand for? Bitcoin!?!:)

  26. Dash

    Finally – Exciting ! ; )

  27. Just downladed the soft very impressed

  28. very cool concept, but I dont see how its is practically any safer than localbitcoins where the "middlemen" are localbitcoin employees who are probably more trustworthy than anonymous people who simply put down a deposit.

    It does have lower fees, (lbc charges 1%), and might be good for very small transactions though.

  29. decentralized shapeshift?

  30. If it is decentralised how does the developer get access to the fees? How is the network distributed physically? Is there any fee share for those people offering resources to support the network?
    Sorry if these are dumb questions.

  31. ausPPC

    I realise it's early days for bitsquare but it could use at least a handful of base currencies instead of just bitcoin. But this is great and I want to try it!

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